Moors & Cabot Inc. Acquires 1,638 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Moors & Cabot Inc. raised its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 14.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,893 shares of the financial services provider’s stock after buying an additional 1,638 shares during the period. Moors & Cabot Inc.’s holdings in Intercontinental Exchange were worth $2,071,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wolff Wiese Magana LLC raised its stake in Intercontinental Exchange by 1,470.0% in the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after buying an additional 147 shares during the period. Northwest Investment Counselors LLC acquired a new position in shares of Intercontinental Exchange in the third quarter valued at approximately $26,000. Financial Management Professionals Inc. grew its position in shares of Intercontinental Exchange by 106.1% in the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 87 shares during the last quarter. Fairscale Capital LLC acquired a new position in shares of Intercontinental Exchange in the second quarter valued at approximately $25,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Intercontinental Exchange in the third quarter valued at approximately $29,000. Institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. TD Cowen assumed coverage on Intercontinental Exchange in a research report on Thursday, September 26th. They issued a “buy” rating and a $182.00 target price on the stock. Piper Sandler upped their target price on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research report on Friday, November 1st. Finally, Bank of America increased their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Intercontinental Exchange Stock Down 1.4 %

NYSE ICE opened at $155.77 on Thursday. The business has a fifty day moving average price of $160.73 and a two-hundred day moving average price of $150.67. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange, Inc. has a fifty-two week low of $111.82 and a fifty-two week high of $167.99. The stock has a market capitalization of $89.44 billion, a PE ratio of 36.91, a PEG ratio of 2.61 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting the consensus estimate of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the prior year, the company earned $1.46 earnings per share. The company’s quarterly revenue was up 17.3% on a year-over-year basis. Equities analysts expect that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO James W. Namkung sold 1,171 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total value of $187,360.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,665 shares in the company, valued at approximately $2,666,400. This represents a 6.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the transaction, the general counsel now owns 44,865 shares of the company’s stock, valued at $7,159,108.05. The trade was a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,489 shares of company stock worth $1,202,259. Insiders own 1.10% of the company’s stock.

About Intercontinental Exchange

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.